Alternative-energy Cars Are Promising In China
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According to the A.T. Kearney research, sedans driven by alternative energies (including all non-pure-gasoline fuel and hybrid power, electric and fuel-cell technologies) are projected to capture 39% of the whole new vehicle market in China by 2020, and the most advantageous form of the alternative energy is the gasoline hybrid power, which will drive 26% of the future vehicles.
China is expected to surpass the United States to become the world's largest auto market by 2015, which suggests the huge potentials in the Chinese auto market, said Sun Jian, Greater China partner of A.T. Kearney. To embrace these opportunities, Chinese automakers will have to upgrade their auto-making techniques, and new-energy vehicles must feature the most important auto-making technology in future.
The A.T. Kearney projection of China's auto market by 2020 shows that if the world oil price stays at $150 a barrel, gasoline-powered vehicles will have 61% market share of new Chinese sedans while the other 39% will go to the alternative-energy sedans; if the global oil price is above $300, alternative-energy cars will gain 70% market share, with electric cars holding 40%.
The report concludes that the Chinese government will likely continue to urge the making of alternative-energy vehicles even when the oil price is temporarily low, passenger vehicle makers should develop new engines, electric power will be largely used in small cars, and passenger car makers and suppliers will have to develop the core technologies of electric vehicles.
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